The Vendor has targeted large land holdings in the coastal 'retirement lifestyle' areas that would be suitable for a mix of residential townhouse, land subdivision and retirement opportunities.
Paynesville is situated in Gippsland Lakes area of Eastern Victoria, three hours from Melbourne. Gippsland Lakes is the largest inland waterway in Australia and is known as the Riviera of the South, with a very mild climate especially in winter.
The passageway from Melbourne through Eastern Victoria includes the fast growing areas of Pakenham, Warragul, Traralgon, Sale and Bairnsdale. These are areas experiencing high growth from the coal industry, agribusiness and tertiary business.
The town is surrounded on three sides by water, is renowned as a popular recreational and retirement area. It is especially popular as a boating destination. It lies approx 17 kms to the south of Bairnsdale, with a district population of 40,000 people.
The subject land is located to the west of the towns centre, and runs alongside the prestigious waterfront residential allotments to the south. The site is located only 150 metres from the water at Newlands Arm.
Being located within the town boundary, the land is suitable for a range of residential development outcomes. The current proposal contains approx 130 land lots and 36 townhouses sites, and a 248 unit Retirement or Lifestyle Village.

Land area: 4046.58 sqm approximately.
Subject to permit for:
13 townhouses in Ringwood
The product mix is:
4 x 2-Bedrooms
7 x 3-Bedrooms
2 x 4-Bedrooms
Location wise it's in the greener area of Ringwood surrounded by parks and schools, walking distance to the station and Eastland/Cosco and a stone throws away from the East Link.